WUHAN YOUJI (02881) Enters into Project Management Service Agreement for Phase I Civil Engineering of Malaysia Plant

WUHAN YOUJI (02881) announced that on September 23, 2026, the owner (a wholly-owned subsidiary of the Company) entered into a project management service agreement with the service provider, pursuant to which the service provider agreed to provide project management and consulting services for the Phase I civil engineering project. The service fee payable under the project management service agreement is a fixed amount of RMB 4 million. The Phase I plan of the Malaysia plant includes production facilities for sodium benzoate and benzyl alcohol, with planned annual production capacities of approximately 15,000 tonnes and 10,000 tonnes, respectively. The Phase I civil engineering project will provide production workshops, warehousing, administrative offices, tank farms, as well as external and ancillary spaces required for subsequent process, equipment and other specialized works and trial operation of the Group's overseas production base in Malaysia. The realization of the planned production capacity remains subject to the progress of the project, obtaining applicable approvals, and actual trial operation arrangements. The project delivery, inspection and statutory supervision framework in Malaysia differs from the framework customarily adopted by the Group for construction projects in China. In view of the scale and technical requirements of the Malaysia plant, as well as the Group's emphasis on construction safety, environmental compliance, quality, materials, cost and schedule control, the Group considers it appropriate to engage an experienced project management service provider to supplement the owner's internal resources and to coordinate with the Malaysian design consultants, contractors and other project participants. The service provider was selected through a competitive invitation to tender process involving multiple independent third-party bidders. It achieved the highest overall assessment result and demonstrated relevant technical capabilities, project personnel and experience in plant construction and chemical industry projects. Following the tender process and subsequent arm's length negotiations, the parties agreed on a fixed service fee of RMB 4 million. The fixed service fee also helps the Group ascertain and control the cost of the project management services.